The business behind the show

Randy Falco promoted to CEO of Univision Communications

Univision Communications Inc. has a new boss: Randy Falco, the former top AOL and longtime NBC television executive, who joined the Spanish-language media giant earlier this year.

“The Board unanimously agreed that Randy’s track record and expertise make him the ideal executive to lead Univision’s future growth," Univision Chairman Haim Saban said in a statement. "Randy has over 30 years of relevant industry experience and has demonstrated his highly-skilled leadership and strategic vision at Univision over the past six months. We are confident in Randy’s ability to deliver on Univision’s goals and accelerate our growth as a leading multi-platform media company in America.”

Falco, who had been serving as chief operating officer, said he was "thrilled" to take the chief executive job. He also will join the company's board of directors.

"I’m excited to lead a company with such tremendous growth potential and look forward to continuing to work with such an exceptional leadership team," Falco said in the statement.